NSW’s triple-A credit rating was affirmed today by ratings agency Standard & Poor’s.
In its report the ratings agency highlighted the State’s exceptional liquidity, very strong economy and low debt burden.
It also noted the NSW Government’s “very strong financial management”, supported by the successful electricity network transactions.
Treasurer Dominic Perrottet said maintaining the triple-A – the highest possible rating – showed NSW remains in prime position for the Government to continue its transformative infrastructure agenda and build the NSW of the future.
“This ratings update is another vote of confidence in the NSW Budget, our economy, and the Government’s vision for our state,” Mr Perrottet said.
“In recent years our triple-A credit rating has enabled us to make record investments in infrastructure across NSW.
“Maintaining the highest possible credit rating gives us access to the lowest possible interest costs so the Government can spend more on what taxpayers really need – roads, rail, schools and hospitals.
“This is something the working families and businesses of NSW can take great confidence in.
“While Labor states like Queensland have faced downgrades in recent years, today’s update confirms that under the Liberals & Nationals Government, NSW remains one of the best places anywhere in the world to invest.”